A rebound for technology stocks led Wall Street to records, even though the majority of U.S. stocks fell following another discouraging update on inflation.
The S&P 500 rose 0.6 percent Wednesday and topped its prior all-time high set early this week. The Dow Jones Industrial Average dipped 0.1 percent, and the Nasdaq composite climbed 1.2 percent to its own record.
Nvidia and other tech stocks led the way, a day after stumbling in an industrywide swoon. Most other stocks weakened after a report showed inflation at the U.S. wholesale level was significantly worse last month than economists expected.
On Wednesday:
The S&P 500 rose 43.29 points, or 0.6 percent, to 7,444.25.
The Dow Jones Industrial Average fell 67.36 points, or 0.1 percent, to 49,693.20.
The Nasdaq composite rose 314.14 points, or 1.2 percent, to 26,402.34.
The Russell 2000 index of smaller companies rose 1.10 points, or less than 0.1 percent to 2,843.93.
For the week:
The S&P 500 is up 45.32 points, or 0.6 percent.
The Dow is up 84.04 points, or 0.2 percent.
The Nasdaq is up 155.27 points, or 0.6 percent.
The Russell 2000 is down 17.28 points, or 0.6 percent.
For the year:
The S&P 500 is up 598.75 points, or 8.7 percent.
The Dow is up 1,629.91 points, or 3.4 percent.
The Nasdaq is up 3,160.35 points, or 13.6 percent.
The Russell 2000 is up 362.02 points, or 14.6 percent.
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